A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  


The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 105 - Supplies in satisfaction of debts  

105-10   Net amounts  

If you are not * registered or * required to be registered , you do not have a * net amount under Part 2-4 merely because you make a * taxable supply under section 105-5 .

This section does not prevent an * adjustment arising that relates to such a supply, but you cannot have a * decreasing adjustment unless you are * registered or * required to be registered .

This section has effect despite Division 17 (which is about net amounts and adjustments).

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